Bitcoin Price Prediction – Why $38K Could Underpin BTC/USD – Forex News by FX Leaders

Bitcoin has begun a new decline against the US dollar, falling below the $40,000 level.

On the hourly chart of the BTC/USD pair, a key bearish trend line is forming with resistance near $39,500.

Bitcoin’s price fell below $40,500, putting it in a bearish zone.

On the hourly chart of the BTC/USD pair, a key bearish trend line is forming with resistance near $39,500.

The next significant resistance level could be $39,700, or the 23.6 percent Fib retracement level of the recent drop from the $42,950 swing high to the $38,700 low.

If Bitcoin fails to break through the $40,000 resistance level, it may continue to fall.

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